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replace to teach law. i wrote the brief against obama with the fact in mind that i have a lot of liberal friends on the cali. my colleagues and the faculty. law professors are quite compulsive but the level of the scholarship. when you read something that you want to have available to your colleagues it has to be overwhelmingly document to and fed noted. and a brief against obama there are 45 pages of footnotes and 235 pages of text. and so when i tell you anything and make a statement about the president tonight and about his record to find in a brief against a llama. and as documentation that takes you executory confine the fact that i cite, the quotations that i put forward in the arguments that i make because i have in mind that when the law school to you reconvenes. i'll leave a copy of the button each of my liberal colleagues mailbox. were actually a wonderful faculty. we stand back-to-back. there are about 50 of the other ones. that's about hair. and we have to abide by just wanted to make sure that it would stand up to the most rigorous analysis. the second part of it is, a lawye
of the state where tampa and orlando are and the miami metro area. .. we see college graduate group that obama lost by about 11 points in 2008. facing the most polls he's physically about even. i think that makes it very difficult for romney to put together a coalition that can take the state. colorado has been fairly close so again obama mabey looks like a fairy or four-point lead on average read a lot of demographic change. you can see the minority eligible voters have gone up by three percentage points and working-class voters in 2008 have gone down by three percentage points. again it doesn't appear that romney is able to turn the demographics tie in his favor. he's not doing much better among the white working-class voters according to the polls i've seen. he's made some progress on the outside margin that obama got 14 points in 2008 among the college graduate voters but he's not making nearly enough voters to take the state and if you break it down geographically the denver metro area is about half the vote in the state but that looks very similar in the polling data as it did in 2008. f
under president obama. 47% is a legitimate figure. and the latest fox news poll shows voters are fed up. when asked if all americans should be required to pay some kind of federal income tax, 79%, yes, they should. and joining us with americans for tax reform, maddie go through it for me fast. how did the spike happen? i believe there was a spike in the number of people not paying any federal income tax at all. >> right, we've got romney talking about this and the media saying that this is, you know, him insulting, inelegant, a problem talking about it, what it is a referendum on obama policies and the state of the economy. what we've seen are incomes falling and people have less income due to paying taxes on and getting more he deduction and less tax income liability. ahead of that, too, though, we've seen a lot more complexity introduced into the tax code, we've got deductions, if you fill out your own 1040 how difficult it is if you're not taking the standard deduction, what your tax liability is. this is something coming down the pipe with a romney administration or more republicans
are some sort of discipline testing so the smart campaigns you know and the obama campaign is emblematic of this basically thinking of almost everything the campaign does this somehow formed by data but you know, you get down to the state-level campaigns and they definitely are having you know people who are voter file managers who are doing the data and targeting people who are doing the data. you get up to the presidential campaign and one of the things, after they won the nomination built what they call the data science team and increasingly that sort of function is becoming a core function of the campaign. it used to be that there were lists for fundraising or voter list and you could buy them from vendors or consultants and now, you know, basically it's a core function of a modern campaign to have people especially on the voter side just crunching and processing data. >> host: if any of us were to go into the romney campaign are the obama campaign and we were to look around the headquarters how many people -- is there a lot of young staff? what does it look like? >> guest: chicago d
.n. as the obama administration explanation of the attack in benghazi continues to einvolve this morning. secretary of state hillary clinton suggesting in a gathering of world leaders that the attack was the work of an al qaeda affiliate. the secretary saying this. now with a larger safe haven and increased freedom to maneuver, terrorists are seeking to extend their reach and networks in multiple directions. they're working with other violent extremists to undermined the democratic transitions underway in north africa as we tragically saw in benghazi. that is the first time secretary clinton acknowledged al qaeda as possibly playing a role in that attack. we'll have more on that coming up. a group of senators are now demanding that susan rice, america's ambassador to the u.n., provide more answers what happened in benghazi. new hampshire senator, kelly ayotte one of those four senators who sent a scathing letter to ambassador susan rice, she will be here to tell us first-hand what that is all about. bill: meantime the violence in syria getting worse by the day. a pair of massive explosions rocking
're looking for a little more intention from president obama, you know what you have to do, beat ohio. he's got campaign events in bowling green state university and kent state university today marking his 29th visit to ohio since taking office. if you exclude the d.c. suburbs of virginia and maryland, it is more than any other state besides new york where the president likes to go to fund raise and considerably more than any other swing state. according to "the washington post," either the president or vice president biden pops up in ohio every three weeks and usually with good financial news for the state. in march ohio got a federal grant for new manufacturing center, it was the first awarded and the administration awarded ohio about $125 million in tax credits to promote clean energy. officials say sometimes good policies also end up being good politics. mitt romney also in ohio wrapping up the three-day romney/ryan bus tour there. while "the new york times" reports that the two plan to campaign more together and they
supporters you might want to look away for this part. in swing state virginia president obama is up by two points. in swing state new hampshire, it's president obama up by five points. in swing state pennsylvania, it's president obama up by seven points. do we still call michigan a swing state? mitt romney supporters you can drop your hands from in front of your eyes here. the latest poll in michigan has mr. obama up by four in michigan. which is a lot less than the 12-point and 14-point leads the president has also had in michigan polls there this month. but for what it's worth, i should also tell you we have national polls. for the national polls mitt romney supporters it's time for the finger vision. president obama up by five points. that's the fox news poll. the gallup dayly tracking poll had been quite close recently. now gallup shows president obama up by six. even really quite ostentatiously republican leaning rasmussen poll gives president obama a one-point advantage nationally. basically across the board in the polls that matter, in the states that matter, the obama campaign is a
is james clapper? we'll take a look. >> dave: remember when president obama said that americans cling to their guns and religion? well, paul ryan says he's proud to be a klinger. >> this catholic deer hunter is guilty as charged and i'm proud of that fact. that's what freedom is. >> dave: catholic deer hunter, vp nominee and why he says a second obama term makes him shudder. >> clayton: and then blaming the boss for stealing, one former tsa over revealing the real reason that he stole 1 million dollars worth of stuff from passengers. the shocking details straight ahead from the tsa. and it's sunday, "fox & friends" begins right now. ♪ >> it is sunday, good sunday morning, how are you guys. >> clayton: the top of the morning to you. people on twitter this morning wanted to make today, national coffee day part deux. >> dave: every day is coffee day on the curvy couch. >> clayton: who makes these days up anyway. >> dave: dunkin' donuts wants to sell more coffee. we'll ask a question, do you find yourself neglecting your kids buried in the smart phone. i neglect pretty much everything.
at all. [♪ "world news tonight" theme ♪] >> stephanie: the obama campaign is nailing mitt romney on his tax returns. >> happy now? >> stephanie: no. the disclosures only raised additional questions. for instance why were more than 65 of the pages have to do with offshore accounts? why did he have dozens of foreign accounts. those are in his power to answer. he plays a lower tax rate than most families because of though tax loopholes and cuts. >> maybe we should ask all of the other presidents who have had swiss bank accounts -- oh wait a minute. >> stephanie: this is the part i found hilarious. the romneys limited their charitable contributions based on the statement he made in august. so they took less of a deduction that they could have. but he can go back and claim it later. [ bell chimes ] [ applause ] >> stephanie: after he wins the election. >> that's convenient. >> stephanie: if romney would have taken all of the tax cuts available to him, he would be playing 9% in taxes. remember he said i shouldn't be president if i paid more taxes than i am supposed to. to
away for this part. president obama is up by 2 points. in swing state new hampshire, it's president obama up by 5 points, in swing state up pennsylvania, it president obama up a by 7 points. do we still call michigan a swing state? mitt romney supporters, you can drop your hands from in front of your eyes here. the latest poll has mitt romney up by 4 in michigan, which is a lot less than the 12 point and 14-point leads the president has also had in michigan in month. we also have national polls and mitt romney, it's time for the finger vision. the latest fox news national polls shows president obama up a by 5 points. that's the fox news poll. the gallup daily tracking poll had been close. now gallup shows president obama up a by 6. even the quite ostentatiously republican leaning rasmussen poll gives president obama a 1-point lead nationally. in the states that matter, the obama campaign is ahead. things could change. we've got the debate starting n next week, there's long way to go, it's politics, anything could happen. but right now the obama campaign is solidly and consistently a
polls. for the national polls mitt romney supporters it's time for the finger vision. president obama up by five points. that's the fox news poll. the gallup dayly tracking poll had been quite close recently. now gallup shows president obama up by six. even really quite ostentatiously republican leaning rasmussen poll gives president obama a one-point advantage nationally. basically across the board in the polls that matter, in the states that matter, the obama campaign is ahead. things could change. we've got the debate starting next week. it's a long way to go, it's politics. anything could happen. right now the obama campaign is solidly and consistently ahead. tactically what that means is the obama campaign has to convert being ahead in people's preferences to actual votes. since they are clearly ahead a good time to get those votes cast is right now. because thanks to early voting people are casting ballots right now. so this lead that they would in the polls can be turned into actual votes while they're still ahead even if they don't end up being this far ahead by election day. iow
than when president obama took office. and 15 million more are on food stamps. my plan will create 12 million new jobs over the next four years. we shoul'teasure compassion by how many pele are on wee. hosuomio by how many people are able to get off welfare and get a good paying job. i'm mitt romney, and i approved this message. >> i think that ad just makes my odorning, it's thursday, september 27th, as you take a look at a wet times square in new york city. i'm in chicago this morning, but with us in new york city wh willie geist, our national affairs editor for "new york" magazine andnbit analyst, john heilemann. also former treasury official and "morning joe" economic analyst steve ratner and nbc news chief affairs correspondent and ht of "andrea mitchell reports." >> we have affairs. >> andrea mitchell. aninasto f "the politico playbook," executive executor jim vandehei. of course, willie, we've got a lot to talk about. let's start really quickly with the refs! >> they're back. >> we've got some breaking news. y,'s veryxc bseu, little she's 9 years old. she plays in the soccer le
. good to be back. well, all roads on the presidential campaign lead to ohio today. president obama and mitt romney, both return for rallies in the battleground state. >> and it is great to have you back, rob. >> thanks. >> the stakes could not be higher, with the latest polls showing the president pulling ahead among ohio voters. abc's tahman bradley joining us this morning from washington with a preview. good morning, tahman. >> reporter: good morning, paula and rob. this is the first time in two months president obama and mitt romney will be in the same state at the same time. they're both holding rallies at the same time. giving a voters a sense of how crucial ohio is. today, a showdown in ohio. president obama and mitt romney spend the day campaigning in the state that could decide the election. the candidates are expected to clash over china. the obama campaign will hit romney for investments in chinese companies. >> you can't stand up to china when all you've done is send them our jobs. >> reporter: the faceoff in the buckeye state come as new polls show romney falling behind
is going to talk down romney's chance of winning. they are going to show mr. obama way up in the polls, so republicans go why even bother voting. >> stephanie: there we go again. reporting the actual polls, karl. >> did you assume for a minute that you could use numbers without being accused of being a liberal, and this is what the republicans are doing. for the last couple of weeks it has been, look, the polls are really tight. and for a while they had a point there, the national polls were really tight. but we don't elect our president by the national polls. it is through the electoral college. >> stephanie: yeah. and the other number he apparently didn't want to mention is the fox news poll. which shows obama way ahead. >> that's where things get inconvenient. >> stephanie: yeah. he is at the point where he is approaching double digits in florida, ohio and virginia and the calculus said -- calculus from my right-wing friends is an advanced form of math -- the calculus said if romney didn't win florida he could not come up with the electorates to win at all. and now no
on "world news now" -- confronting the anger against america. president obama uses the world stage to talk about recent uprisings in the muslim world. >> his address to the u.n. general assembly includes a passionate defense of free speech. it's wednesday, september 26th. >> announcer: from abc news, this is "world news now." >>> good morning, everybody. i'm paula faris on this hump day. >> that's right. midweek. here we go. good morning, everybody. good to be back. i'm rob nelson. we'll get to the president's speech, including his powerful trib but to murdered ambassador chris stevens coming up in just a second. >>> also in this half hour, officially fed up. football fans are still fuming over that botched call by the replacement refs. so many people are venting on our facebook page. we're going to share a few of the juicy one s coming up in just a second. everybody is talking about the end of that monday night game. >> a fair call for those who live in seattle. outside of seattle, botched call. >> indeed. man. >>> forget living large. in san francisco, go small or go home. we'll give you
class family of four would see their tax bill increase by $2,200 in 2013. jessica, president obama could win. congress could come back with the same composition that it has now. what does the president do, as i ask, between election day and the end of the year to protect americans from the fiscal cliff? >> well, there's, obviously, two scenarios. but one where he will not extend the bush tax cuts for the wealthiest americans. so, the fiscal cliff is going to be folded in in some way into renegotiating the tax cuts and how they get extended. and i think he'll say it's a no go. i'm fought going to extend the bush tax cuts. so, either we can negotiate it now in these few remaining weeks before christmas or we can face a government shut down. i think there will be a little bit of chicken game playing at the end of the year. and what most people in washington think will likely happen is they'll negotiate some way to say, here's a broad framework for what both sides want, let's work it out next year. we'll see. >> sheila, i kind of think americans are a little dilutional they are about the eco
, the expectations, people expect, president obama, by 2-1 to win the election. not that they're endorsing. if you look at just a year ago, by an 18-point margin, thought the president would lose. just in a matter of one year. >> expect him to win the debate convincingly as well. see what happens. when it comes to the race. it's much closer. when it comes to the race. shows the mitt romney at 49 losing to obama with 47. much closer in that regard. >> so the first one wednesday. then we have two more coming up. biggest one no doubt. >> 36 days to go. >> 36 days to go. my goodness. >> not that we are counting. >>> as the the war in afghanistan winds down, the u.s. military reached a grim new milestone. 2,000 service members have now died in the war. the latest casualty, it was over the weekend when a soldier died in a fire fight with afghan troops. an american civilian contractor was also killed in that battle. >>> all right, new findings this morning in the government's botched gun tracking program, fast and furious, with dozens more firearms linked to crimes in mexico. our new partner univision, r
and president obama prepare for their first debate. >>plus convicted d-c sniper lee boyd malvo opens up about the murders he helped commit a decade ago as a teenager. and a man who worked as an aide to an illinois congressman was accused of assaulting lindsay lohan over the weekend. [ male announcer ] this is sheldon, whose long day setting up the news starts with arthritis pain and a choice. take tylenol or take aleve the #1 recommended pain reliever by orthopedic doctors. just two aleve can keep pain away all day. back to the news. >>three americans serving with nato forces in eastern afghanistan were killed today in a suicide bombing attack. in all 14 people were killed and 37-others were injured. witnesses tell reuters the bomber was wearing a police uniform and drove a motorcycle strapped with explosives. the afghan taliban is claiming responsibility for the attack. the bombing follows the killing of two americans on sunday during a shoot out with afghan forces. >>a decade after the infamous washington, d.c. sniper murders, one of the convicted snipers says he fee
're in the cnn newsroom where we're live this saturday, september 29th. i'm fredricka whitfield. president obama and mitt romney are about to come face to face in the first presidential debate. just four days away, both obama and romney are practicing this weekend while their campaigns are presenting each candidate as the underdog. paul is in the battleground state of new hampshire. >> hey, fred. as running mate paul ryan makes the rounds on the campaign trail both here in new hampshire and ohio, his boss mitt romney is hunkering down, getting ready for the debate on wednesday, the first presidential showdown between him and president barack obama. romney spending a lot of this weekend in debate preparation. the same thing for the president. he's off the campaign trail today, tomorrow he does go out to nevada, but he's spending a lot of this weekend, we believe, behind closed doors getting ready. meanwhile, both campaigns are playing the expectations game, trying to lower the bar for their candidates. even the candidates themselves are doing it. take a listen to mitt romney recently on the campa
insurance, the reason why i am leaning toward obama -- and i really do not know what obamacare is, but from what i understand ifrom mitt romney, he doesn't believe in any care. my husband has high blood pressure. he was not a mechanic ever insurance we went to, and he could not pass the physical. the insurance company would not injure him. i tried to buy him insurance. as soon as he said he was employed independent, nobody would injure him. that is my big issue. when people have worked their whole lives and they get sick, we should be able to buy insurance. host: dr. makary, what role -- and if you want to address her specific point, that is fine, but what role do the insurance companies play in this unaccountableness, as you call it? guest: we have had no good ways to measure the quality of health care. the insurance companies have been eager to get into the business of looking at performance and use it as a way to pay hospitals and doctors. the problem is, we have not had a good measure until now. there is a very exciting revolution taking place in medical care now. it is in medicare webs
for the debate on wednesday, the first presidential showdown between him and president barack obama. romney spending a lot of this weekend in debate preparation. the same thing for the president. he's off the campaign trail today, tomorrow he does go out to nevada, but he's spending a lot of this weekend, we believe, behind closed doors getting ready. meanwhile, both campaigns are playing the expectations game, trying to lower the bar for their candidates. even the candidates themselves are doing it. take a listen to mitt romney recently on the campaign trail. >> he's president of the united states, he's a very effective speaker. >> he's a very eloquent speaker, and so i'm sure in the debates, as last time in his debates with senator mccain, he'll be very eloquent. >> it's not only mitt romney and his campaign playing the game. so is the obama campaign. >> what history tells us, that challengers normally win the first debate. just by the fact that they're standing on the stage with the president. that elevates them, and they normally come into these things as underdogs. we're coming into th
. president obama for mitt romney. some new data out. most people have made up their minds. 15% could be convinced to choose somebody else. that seems kind of hype. first, here are some currencies. look how they are shaping up against the dollar today. ♪ follow the wings. ♪ >> @23 minutes past the hour i have good news minute. at least 14 people are dead after a bombing attack in afghanistan. thirty-seven for her to the attack. a new report finds dozens of weapons connected to the bathroom. and it gone rubbing fetish they were linked to murders, kidnappings and other drug cartels. your seafood may be shrinking over the next few decades. researchers at the university of british columbia faced global warming will reduce the size of 600 species of fish. warmer oceans will reduce the amount of oxygen in the water. those are your news headlines on the fox business network. dagen: thank you so much. the supreme court is back in session. first on the agenda, a human right case revolving around a ball around 1789. connell: peter barnes covered that. >> argument ending for this first case.
the obama campaign is capitalizing within at airing in ohio. mitt romney attacked 47 percent of americans who pay no income tax including veterans elderly and disabled doesn't the president have to worry about everyone? the ad points out that ronni paid an income tax rate of only 14 percent said that obama's ad is trying to fool people by mischaracterizing his view on the issue. campaigning aggressively in must win colorado the president said anti-american protests are bombs on the road to democracy. >> and ambassador was assassinated we had 20,000 people killed in syria these are not bombs in the road these are human lives. ronni declaring himself a leader who will shape the events in the mideast not to be at the mercy of them. and secretary of state hilary clinton will gather in new york for the annual meeting of the united nations general assembly the middle east is expected to dominate discussions. russia and china is also on the table in sir block against sanctions against syria. this morning secretary of state hilary clinton addressed the issue saying the world will not tolerate mo
's presidential debate with president obama and mitt romney getting ready to go head-to-head for the first time and their supporters weighing in on who is best prepared. i think both are excellent in their own way. i think you could argue that mitt has had a lot more recent experience, obviously, but also, candy part of it depends on who is moderating. he's been through at least 20 debates in the course of the primaries, and newt gingrich himself said just the other day, he's the best debater. he beat all of them. tim pawlenty, a republican said they think he's a terrific debater mitt romney used senator rob portman of ohio to act as his opponent while preparing for the debate.... and john kerry played the role of romney stand-in...for president obama. the president has a day job, the presiden'ts been president and has not had the time to practice, all we hear about is that mitt romney's been practicing practicing, practicing wherever he goes. i think mitt romney is going to come in there very prepared, he's going to do very well because he's done very well in all of the debates i thin
. under the leadership of president obama and the international community, the united nations has put them under some of the strongest sanctions today. oil exports have been correct. the iranian economy has been hit hard. it does have an effect on the economy. we must face the truth. sanctions have not stopped iran's nuclear program. according to the international atomic energy agency, during the last year alone, iran has doubled the number of energy uses in its underground nuclear facility. at this late hour, there is only one way to peacefully prevent iran from getting atomic bombs, and that is by placing a clear nucleare on iran's weapons program. [applause] red lines do not lead to war. they prevent war. look at nato's charter. it made clear that an attack on one member country would be considered an attack on all. new's redlined helps keep the peace in europe for nearly half a century -- red lines have helped keep the peace in europe for nearly half a century. and help preserve the peace for decades. it is the failure to place red lines that has often invited aggression. if it were dr
. secretary of state hillary clinton met with benjamin netanyahu. president obama was campaigning in virginia thursday, the white house said too busy to meet with the prime minister. earlier he laid down his red lines for stopping iran's nuclear program. >> this is a bomb. this is a fuse. >> reporter: netanyahu spoke a day after iran's president ahmadinejad from the same podium had called israel uncivilized zionists. netanyahu said tehran was already 70% towards getting enough nuclear fuel for a bomb and has to be stopped within months. >> if these are the facts, and they are, where should a red line be drawn? a red line should be drawn right here. >> reporter: president obama told the u.n. this week there is more time before iran reaches a point of no return. >> america wants to resolve this issue through diplomacy, and we believe that there is still time and space to do so. >> american intelligence does not yet believe iran has made the political decision to actually build a weapon. what does israel think? >> whether or not iran made the decision will become irrelevant once we can no longer
obama on the battle over how to fix our nation's schools. >> can you really say that teachers unions aren't slowing the pace of reform? >> this morning the president's revealing answer. >>> and say it ain't so. what could be devastating news for a lot of people who love bacon. according to industry experts, a world shortage of bacon is under avoidable today, tuesday, september 25th, 2012. captions paid for by nbc-universal television >>> from nbc news, this is "today" with matt lauer and savannah guthrie live from studio 1a in rockefeller plaza. >>> and good morning. welcome to "today" on this tuesday morning. i'm savannah guthrie. we've drawn al roker because we have a plate of bacon right here. >> called in the paramedics because he basicalically passed when he heard there might be a shortage of bacon. experts say that this is a done deal, that because of the brought affecting soybeans and corn, crops, the feed for pigs has dried up, and we're going to be paying a lot of money for bacon a year from now. >> as one member of our crew just said, we better pig out right now. >> do we k
! >> as the calls get worsend tempers flair, can the fans and league take much more? >>> one-on-one, president obama on the battle over how to fix our nation's schools. >> can you really say that teachers unions aren't slowing the pace of reform? >> this morning the president's revealing answer. >>> and say it ain't so. what could be devastating news for a lot of people who love bacon. according to industry experts, a world shortage of bacon is under avoidable today, tuesday, september 25th, 2012. captions paid for by nbc-universal television >>> from nbc news, this is "today" with matt lauer and savannah guthrie live from studio 1a in rockefeller plaza. >>> and good morning. welcome to "today" on this tuesday morning. i'm savannah guthrie. we've drawn al roker because we have a plate of bacon right here. >> called in the paramedics because he basicalically passed when he heard there might be a shortage of bacon. experts say that this is a done deal, that because of the brought affecting soybeans and corn, crops, the feed for pigs has dried up, and we're going to be paying a lot of money for bacon a
more? >>> one-on-one -- president obama on the battle over how to fix our nation's public schools. >> can you really say that teachers' unions aren't slowing the pace of reform? >> this morning the president's revealing answer. >>> and say it ain't so. what could be devastating news for a lot of people who love bacon. according to industry experts, a world shortage is unavoidable today, tuesday, september 25th, 2012. captions paid for by nbc-universal television >>> and good morning, welcome to "today," it's 7:00 a.m. on the west coast on a tuesday morning, i'm savannah guthrie. >> and i'm matt lauer, first we had replacement referees in the nfl and now you're telling me a shortage of bacon on the horizon? >> i can't go on. >> i'm only one man here, i can only take so much. i will arm wrestle you for this later. the drought impacted the soy and, the soybean and corn crops, that's what pigs eat, that's why there's a problem in the next year. it's a dire situation for bacon-lovers. >> and in other pigskin news, i'm repeating the same lame joke from the east coast, big story in footb
at 8:00 p.m. eastern on c-span2. now mexican president felipe calderon on obama's policy to avoid deportation. he also talked about drug- trafficking and the sale of weapons across the border. this is about an hour and 10 minutes. >> welcome to this council on foreign relations meeting. we are so very honored to have the president of mexico, felipe calderon. and before we get started, let me say that this meeting is on the record and is being telecommunicated to new york by video conference. we thank you. turn off all wireless devices, phones, blackberries -- not to vibrate, but really off. and as is customary, preserve the map -- observe the maximum time for our conversation -- to preserve the maximum time for our conversation with the president, our introduction will be diplomatically short. you have his resume and you were given the papers as you entered the hall. let me simply say that president calderon, the youngest of five boys, earned a bachelor's degree of law, a master's degree in economics, and a master's degree in public administration at the john kennedy school at har
if it was president obama gets re-elected, then at the high end you'll see the bush tax cuts not extended for the high end. and then -- but if romney wins it, you would see them all extended. is there one that would have a better outcome in your view? >> you know, i think there's a -- there's a tension between two different things here. on the one hand, there's a sense that in the very near term with a weak overall economic performance continuing that raising levels of taxes wherever in the distribution may have some negative effects on economic growth. and then there's a harder long-term question, frankly, which is how tax rates on capital gains, on dividends which feed through a somewhat complicated channel by encouraging various kinds of saving activity and ultimately lowering the cost of capital to businesses and encouraging investment, how that translates into long-term economic growth. that is frankly a difficult chain to try to measure in any precise way, and consequently it's harder to be able to trace through the quantitative impacts on growth to follow through on channels for that. >> to fol
and it will limit the upside for next year. >> is there a point at which you see obama in the polls and you say actually now i believe that we are going to get the tax hikes and the market should fall? there must be a watershed quite soon as we head towards particularly what happens in the house and the senate. >> our focus has been on the senate. we think that's what's going to mostly influence the outcome. i hope there's appetite to see the rates low. i don't see a benefit from raising them. i would call a coin toss on the senate outcome. but wiser minds will see the wisdom of helping the fed in its efforts to stimulate asset prices by not onerously raising taxes on the most important asset class other than homes. >> have you actually calculated a number? you said it would give back some of the rally. but is there a number or a percentage? >> 12-month price target is 1,500. we've written in our research that 1,600 would be a reasonable 2013 end. i need to see an acceleration in global growth. >> contingent on both, not just the tax issue? >> both. somewhere between 1,500 and 1,600. >> david,
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